Many companies use mid-year reviews as a chance to talk with workers about their daily performance and progress toward long-term goals.
At its most basic, a mid-year review helps reinforce the connection between employees and their manager. It also helps both employees and management make adjustments and eliminate surprises at the year-end review.
These one-on-one meetings allow supervisors the chance to offer positive feedback, get rid of performance obstacles, modify goals if priorities have shifted, check in on worker satisfaction and exchange ideas.
Offering sincere feedback, both good and bad, is an essential component of successful management. While feedback should be ongoing throughout the year, it’s natural for people working together to ignore or avoid any issues that might call for feedback. A formal mid-year assessment increases the chance any issues are discussed promptly.
Checking on progress
As a year moves along, new priorities are added and ones that seemed critical earlier on may have reduced in importance. By checking at the middle of the year, management can make certain employees’ time is being invested where it should be, and modifications can be made if conditions call for it.
Formally addressing issues
From personal relationships to professional ones, it often takes a scheduled face-to-face meeting to work out any issues that have been bubbling under the surface. A mid-year performance review provides the perfect excuse for both employees and managers to speak their minds about the things that are trending in the wrong direction.
Boosting employee engagement
Employee evaluations have a way of inducing anxiety in even the most confident of workers, but that doesn’t have to be the case, nor should it be. In fact, employees generally want to know how they’re doing. They want to talk to the manager so they can feel confident in their work moving forward. Through coaching and meaningful feedback, management can engage their employees in a mid-year review, and studies show engaged employees are both happier and more productive.
Side-stepping annual review pitfalls
There are two big problems with only holding annual reviews. First, the review tends to focus on the employee’s most recent results. If an employee was doing great in March, but fell off in November, a year-end review could be harsher than it needs to be. Conversely, if an employee ramped up their productivity ahead of their annual review after slacking all year, the earlier poor performance might get overlooked.
The second problem with holding only annual reviews is that stated or implied connection to compensation. Tying pay raises to annual reviews puts an employer in a box when it comes to salary structure. By holding two reviews a year, it gives the employer more flexibility in how it rewards and pays employees.
At Thompson Technologies, we work with our client companies to ensure our contract workers are getting the appropriate amount of feedback and coaching. Please contact us today to learn more about how we can help your company reach its goals.